The biggest news stories of the week include:
The European Commission has released the formal document with "feedback on the public consultation on possible end-date(s) for SEPA migration" (13 page pdf)
LSE granted exclusivity for Turquoise move
'Polanski arrest was hatched by Swiss bankers' (Evening Standard)
BofA CEO resigns (Reuters)
Review of Michael Moore's new film 'Capitalism: A Love Story' in USA Today
G20 agrees on time table for reforms (CNN)
Leaders of G-20 Vow to Reshape Global Economy (New York Times)
G20 moves against bankers' pay and bonuses (Times)
And our key stories of the week include:
Last week, I blogged about innovations in payments from a consumer's perspective, and followed it up yesterday with an ancillary note. In this second part, I thought I would take a closer look at what is innovatory in the corporate world of payments.
I spent all day yesterday with a group of bankers in Portugal. Why? Well,
it is the annual Infosys customer conference and they were kind enough
to invite me over to give a keynote, which I will post here shortly. It was also run under Chatham House rules … so here’s who said what.
Infosys conference this week, the hosts constantly asked the
audience to vote on a variety of questions about innovation. With about
100 or so banks from across the globe, what were their answers?
Here’s a summary of the presentation I gave at the conference this week. The headline is that the traditional model of banking is dead, long live the new bank model. The dead model is the one where 80% of costs of retailing are in stores (branches). Branch based banking is dead. Branches are not dead … just the concept of branch-based banking per se.
For years, I’ve played poker with matches and chips rather than coins and notes. We accept that a match can be ten cents or a chip is a dollar or more. We don’t need real money to know our exchange rates. Now, this basic idea is being replicated in social networks.
has picked out some killer quotes that they thought tracked the
financial crisis. Here are a few of them, with my own interpretation …
Just got a really interesting note about a new MasterCard from Phones4U. It's called the 'Escape' Card and focuses upon migrant worker remittances.
Until last night, I had never heard of Optiver. Today, they are firmly on my radar as someone said I should "YouTube" them. A bit like Googling someone, YouTube is now the name to get your name known. So I YouTubed Optiver and what I found made me laugh the night away. Here's a brief example.